Managers of the nation’s airports are worried about tax-code changes included in President Obama’s proposed fiscal 2014 budget that would make it costlier to use bonds to pay for infrastructure improvements, eroding a reliable source of relatively inexpensive funding that has contributed nearly $50 billion to such airport projects over the past decade. At issue is the 100-year-old tax exemption provided on the interest earned on municipal bonds. The White House’s 2014 budget proposal ...


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